Founded in 1899, Banorte is a wholly owned subsidiary of Grupo Financiero Banorte, a leading banking and financial services holding company in Mexico. With around 27,000 employees, the bank is based in Mexico City. It operates through a network of approximately 1,191 branches, 7,425 ATMs, 6,989 third-party correspondents, and 155,893 POS terminals. As of 2016, the bank’s total assets were US$70 billion and net profit was US$1.038 billion.